Alexander M. Moye and Judy H. Moye - Page 26

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                    Kennels, Inc., was incorporated, owned land, borrowed money, and                                                                                       
                    did business.                                                                                                                                          
                              We sustain respondent's determination and conclude that                                                                                      
                    petitioners are liable for the penalty for substantial                                                                                                 
                    understatement of tax under section 6662(a) for 1990.                                                                                                  
                              To reflect the foregoing,                                                                                                                    

                                                                                                              Decision will be                                             
                                                                                          entered for respondent.                                                          































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